Bulgarian Property Market May Recharge Growth Over Short Term

Bulgaria's property market was treading water with holiday homes emerging as the riskiest segment, Bulgarian real estate investment fund (REIT) managers said on August 13.The ongoing fragmentation of the market will be short-lived and it should regain its brisk growth momentum within the next couple of years, according to Todor Stoyanov, second executive director at Prime Property BG, and Petar Syarov, the investor relations officer of the REIT.The holiday homes segment had been on the back foot, but demand has once again picked up over the last two months, Stoyanov said.Ski resort Bansko and sea resorts Zlatni Pyassutsi (Sunny Beach) and Sveti Vlas are the most risky property markets at the moment, the REIT's officials said. Despite the market slowdown, fears that it may cause prices to plummet are ungrounded, however.According to the company's analysis, the market was undergoing a gradual price reality-check, an indication that a bubble scenario has been averted.